PHASE II CLINICAL STUDY AT WEILL CORNELL MEDICAL CENTER INVESTIGATING PAXALISIB IN COMBINATION WITH METFORMIN AND A KETOGENIC DIET ENROLLS FIRST PATIENT

On February 28, 2022 Kazia Therapeutics Limited (NASDAQ: KZIA; ASX: KZA), an oncology-focused drug development company, reported that a phase II study of Kazia’s investigational new drug, paxalisib, in combination with metformin and a ketogenic diet for the treatment of newly diagnosed and recurrent glioblastoma, has been initiated at Weill Cornell Medicine, with the first patient successfully initiated in the study and a second patient already in screening (Press release, Kazia Therapeutics, FEB 28, 2022, View Source [SID1234609185]).

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Key Points

Research by Professor Lew Cantley, who discovered the PI3K pathway, suggests that a low-insulin state may enhance the activity of PI3K inhibitors such as paxalisib. Inducing a ‘ketogenic’ state, in which the body is fueled by fats and proteins rather than by glucose, is a very effective way to reduce insulin levels.
Patients on the study will also be treated with metformin, a common anti-diabetic drug, which is intended in this case to further reduce insulin levels.
The Cornell study will explore this approach. One arm of the study will examine patients with recurrent disease, and the other will enroll newly diagnosed patients.
Dr Howard Fine, founding Director of the Brain Tumor Center at New York-Presbyterian Weill Cornell Medical Center, will serve as Principal Investigator.
The study is expected to recruit between 30 and 60 patients, and to take approximately two years to complete.
Kazia will provide support, including study drug and a financial grant.
Dr Fine, Principal Investigator on the study, commented, "We have extensive and very convincing preclinical data to support this approach. My colleagues and I believe that administering paxalisib to patients in a ketogenic state may significantly enhance its efficacy. That in turn offers the potential to make a very significant difference in the treatment of glioblastoma, which remains one of the most challenging cancers in modern medicine."

Kazia CEO, Dr James Garner, commented, "We are delighted to have this study now underway and look forward to following its progress. This important milestone kicks off an exciting year for Kazia, with at least six potential data read-outs anticipated over the course of 2022. The GBM AGILE study continues to progress well, and additional studies, such as this one, have the potential to substantially extend and enhance the use of paxalisib in clinical practice."

Ketogenesis and Glioblastoma

Cells in the human body generally rely on glucose as ‘fuel’ for their energy requirements. However, when glucose is not readily available, cells can metabolise fats and proteins to provide energy. The fats and proteins are broken down to an intermediate form known as ketones, and so this biochemical pathway is referred to as ‘ketogenesis’.

Unlike healthy cells, most tumour cells are poorly able to metabolise ketones, and so depend on glucose for their energy needs. Consequently, many researchers have experimented with ‘ketogenic diets’ as a potential treatment for cancer.[1]

In addition, scientists in Professor Cantley’s lab have shown that insulin has the potential to counteract the anti-tumor effects of PI3K inhibitors[2]. In follow-up, Dr Fine’s lab has shown that insulin can reverse the anti-tumor effects of PI3K inhibitors specifically in glioblastoma cells. Insulin is a hormone produced by the body in response to high levels of glucose. When the body is in a state of ketosis, glucose is absent, and so insulin falls to very low levels.

For these reasons, there is a sound rationale to explore a combination of ketogenic diet and paxalisib in glioblastoma. In this study, patients will also receive metformin, a common anti-diabetic drug, which will help to further lower fasting insulin levels.

Clinical Trial Design

This study will comprise two arms. The first will contain patients with newly diagnosed glioblastoma who have unmethylated MGMT promotor status. These patients have historically responded poorly to the current standard of care, temozolomide. The second arm will contain patients with recurrent disease, regardless of the methylation status of their MGMT promotor, who have progressed after taking standard-of-care therapy.

In each arm, paxalisib will be combined with metformin and with a ketogenic diet. The diet will be overseen by expert clinical dieticians to ensure that it is scientifically appropriate and that patients are compliant.

An initial cohort of approximately 16 patients will be recruited to each of the two study arms. If there are signals of activity in a given arm, that arm will be expanded to approximately 30 patients. The primary endpoint will be progression-free survival at six months (PFS6). In addition to efficacy and safety, the study will examine a range of metabolic, pharmacodynamic, and novel radiographic imaging biomarkers to inform future research and clinical practice. The study is expected to take around two years to complete.

Principal Investigator

Dr Howard Fine will serve as Principal Investigator to the study. Dr Fine is the founding Director of the Brain Tumor Center at New York-Presbyterian Weill Cornell Medical Center, Feil Professor of Medicine a Professor of Neurology at Weill Cornell Medicine. He is an internationally recognized leader in the field of neuro-oncology, with more than 30 years of experience in both laboratory and clinical research as well as in the care of patients with brain tumors. Dr Fine has built large multidisciplinary brain tumor programs at top academic institutions such as the Dana Farber Cancer Institute / Harvard Medical School and the National Institutes of Health, has cared for nearly 20,000 patients with brain and spinal cord tumors in his career, has conducted over 100 clinical trials, published over 250 papers and book chapters on brain tumors, and for over two decades has run a continuously operating translational genetic / molecular laboratory devoted to a better understanding of, and better therapies for, brain tumors.

Weill Cornell Medical Center

The Joan and Sanford I. Weill Medical College of Cornell University, known generally as Weill Cornell Medicine, is the medical school of Cornell University, based in New York, NY, and is one of the leading medical research centers in the United States. Its notable alumni include Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Disease.

Paxalisib Clinical Program

The initiation of this trial in glioblastoma brings the number of ongoing clinical studies of paxalisib in brain cancer to eight.

Mirati Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Recent Corporate Updates

On February 28, 2022, Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, reported financial results for the fourth quarter and full year 2021 and recent corporate updates (Press release, Mirati, FEB 28, 2022, https://www.prnewswire.com/news-releases/mirati-therapeutics-reports-fourth-quarter-and-full-year-2021-financial-results-and-recent-corporate-updates-301491923.html [SID1234609184]).

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"Mirati is aggressively advancing its mission for patients with cancer. 2021 was a pivotal year for the company as we achieved important regulatory and clinical milestones across our programs," said David Meek, chief executive officer, Mirati Therapeutics, Inc. "I am confident in our ability to execute against our bold goals in 2022, including potentially launching adagrasib in previously-treated KRASG12C-mutated lung cancer in the U.S., and advancing the adagrasib development program, including moving into earlier lines of therapy and into additional tumor types. We are also rapidly progressing our broader portfolio, which includes sitravatinib, MRTX1719, an MTA cooperative PRTM5 inhibitor for which we recently initiated a Phase 1/2 clinical study, and potentially advancing two additional programs into the clinic in the next year – MRTX1133, our KRASG12D inhibitor and MRTX0902, our SOS1 inhibitor. Our financial strength and dedicated team will enable us to continue to advance our pipeline, invest in innovation and position the company for sustained growth."

Pipeline Updates

Adagrasib

Announced the U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for adagrasib for the treatment of patients with non-small cell lung cancer (NSCLC) harboring the KRASG12C mutation who have received at least one prior systemic therapy. The Prescription Drug User Fee Action (PDUFA) goal date is December 14, 2022. (View Release)

Announced positive results from a Phase 2 cohort of the KRYSTAL-1 study evaluating adagrasib in patients with pretreated pancreatic ductal adenocarcinoma and other gastrointestinal (GI) tumors harboring a KRASG12C mutation at the 2022 ASCO (Free ASCO Whitepaper) GI Cancers Symposium. (View Release)

Announced a non-exclusive clinical collaboration agreement with Verastem Oncology to evaluate the combination of adagrasib with Verastem Oncology’s investigational RAF/MEK inhibitor VS-6766 in KRASG12C-mutant NSCLC. (View Release)
Sitravatinib

The Company remains on track to provide an update in the second half of 2022 from the actively enrolling global registrational Phase 3 study, SAPPHIRE, evaluating sitravatinib plus nivolumab1 in second or third line non-squamous NSCLC based on an interim analysis of overall survival.
MRTX1719

Announced submission of an Investigational New Drug (IND) application to the U.S. FDA to evaluate MRTX1719, a synthetic lethal MTA cooperative PRMT5 inhibitor, for the treatment of methylthioadenosine phosphoylase (MTAP)-deleted cancers, and initiated a Phase 1/2 clinical study. (View Release)
Recent Corporate Updates

Completed a public offering of common stock on November 10, 2021 that provided net proceeds of $475.0 million.

Published the 2021 Corporate Sustainability Report, the Company’s first report, which provided relevant information describing investments and resources based on the biotechnology and pharmaceuticals framework of the Sustainability Accounting Standards Board. (View Report)
Fourth Quarter and Full-Year 2021 Financial Results

Ended the fourth quarter with approximately $1.5 billion in cash, cash equivalents, and short-term investments.

Research and development expenses for the fourth quarter of 2021 were $153.8 million, compared to $82.7 million for the same period in 2020. Research and development expenses for the twelve months ended December 31, 2021 were $508.6 million, compared to $299.3 million for the same period in 2020. The increase in research and development expenses is primarily due to an increase in expense associated with the development of adagrasib and sitravatinib, an increase in preclinical and early discovery activities, an increase in salaries and other employee-related expense, which includes an increase in share-based compensation expense, as well as an increase in other research and development costs. The Company recognized research and development-related share-based compensation expenses of $21.8 million during the fourth quarter of 2021, compared to $12.2 million for the same period in 2020, and $68.5 million during the twelve months ended December 31, 2021, compared to $48.0 million for the same period in 2020.

General and administrative expenses for the fourth quarter of 2021 were $43.5 million, compared to $25.3 million for the same period in 2020. General and administrative expenses for the twelve months ended December 31, 2021 were $136.7 million, compared to $83.4 million for the same period in 2020. The increase is due to an increase in salaries and other employee-related expenses, which includes an increase in share-based compensation expense, an increase in professional services expense primarily associated with commercial scale up, an increase in insurance, rent and other facilities-related costs, and an increase in sponsorship agreements expense. The Company recognized general and administrative-related share-based compensation expenses of $12.1 million in the fourth quarter of 2021, compared to $9.6 million for the same period in 2020, and $45.0 million during the twelve months ended December 31, 2021, compared to $37.8 million for the same period in 2020.

Net loss for the fourth quarter of 2021 was $199.6 million, or $3.72 per share basic and diluted, compared to a net loss of $101.1 million, or $2.08 per share basic and diluted for the same period in 2020. Net loss for the twelve months ended December 31, 2021 was $581.8 million, or $11.21 per share basic and diluted, compared to a net loss of $357.9 million, or $7.96 per share basic and diluted for the same period in 2020.
Conference Call Information

There will be a conference call on February 28, 2022 at 4:30 p.m. ET 1:30 p.m. PT during which company executives will review financial information and address inquiries from investors and analysts.

Investors and the general public are invited listen to a live webcast of the call at the "Investors and Media" section on Mirati.com or by dialing the U.S. toll free +1 313-209-4906 or international +1 877-502-9276, confirmation code: 6820152.

A replay of the call will be available approximately 2 hours after the event has ended at the same website or by dialing in the U.S. toll free +1 719-457-0820 or international +1 888-203-1112, confirmation code: 6820152.

Novavax Reports Fourth Quarter and Full Year 2021 Financial Results and Operational Highlights

On February 28, 2022 Novavax, Inc. (NASDAQ: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, reported its financial results and operational highlights for the fourth quarter and twelve months ended December 31, 2021 (Press release, Novavax, FEB 28, 2022, View Source [SID1234609183]).

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"NVX-CoV2373 has now received regulatory authorizations globally, representing the potential to reach more than six billion lives. We are now delivering our vaccine around the world, with immunizations already happening in the European Union, Asia and Australia to meet the continued need to achieve high vaccination rates through primary immunization, boosting and protection of pediatric age groups," said Stanley C. Erck, President and Chief Executive Officer, Novavax. "We also remain focused on expanding access to our vaccine through additional regulatory filings and ongoing research to add to our robust body of clinical data. We are confident in NVX-CoV2373’s potential as a vital vaccine option due to its reassuring safety profile and demonstrated efficacy against variants with the benefits of refrigerator-stable storage."

Fourth Quarter 2021 and Recent Highlights

Achieved Multiple Regulatory Authorizations Globally for COVID-19 Vaccine

Nuvaxovid was granted authorization (emergency, provisional, interim conditional or emergency use listing) in Great Britain, the European Union, the World Health Organization (WHO), Canada, Australia, United Arab Emirates, Singapore, and New Zealand; received Biologics License Application approval in South Korea with our partner, SK bioscience
Covovax was granted emergency use authorization in India, Indonesia, Philippines, Bangladesh, and emergency use listing from the WHO with our partner, Serum Institute of India (SII)
Completed Multiple Regulatory Submissions Globally for COVID-19 Vaccine

Completed regulatory submissions for authorization for NVX-CoV2373 in the U.S. and Switzerland
SII completed submission to South Africa, for NVX-CoV2373 to be marketed as Covovax
Takeda Pharmaceutical Company Limited, our partner, completed submission to Japan for a New Drug Application
COVID-19 Vaccine Advanced Purchase Agreement

Executed advance purchase agreement (APA) with Israel’s Ministry of Health to supply a minimum of 5 million vaccine doses
Option to purchase an additional 5 million doses
COVID-19 Vaccine Manufacturing, Supply and Distribution

Built manufacturing and robust supply network to support over 2 billion annual doses of capacity and initiated distribution of NVX-CoV2373 to begin fulfillment of our commitments
Expanded partnership with SII through new supply agreement
Reserved significant additional manufacturing capacity with SK bioscience to produce antigen, and SK bioscience acquired non-exclusive rights to sell to governments in Thailand and Vietnam
Entered into a contract manufacturing agreement with Mabion for the large-scale manufacturing of NVX-CoV2373 through 2026
COVID-19 Vaccine Clinical Development

Announced data from extended analysis of our UK Phase 3 study demonstrating ongoing durability of protection against infection and disease
82.5% vaccine efficacy in protection against all COVID-19 infection, both symptomatic and asymptomatic, as measured by PCR+ or anti-N seroconversion
82.7% overall vaccine efficacy against disease over a 6-month data collection period (median of 101 days of surveillance)
100% vaccine efficacy against severe disease
Announced data from PREVENT-19 Phase 3 pediatric expansion in adolescents aged 12 through 17, achieving primary effectiveness endpoint and comparability to adult population
Adolescent neutralization responses ~1.5-fold higher than adults
82% clinical efficacy against Delta variant
IgG and functional immune responses against variants were higher than in adults
Generally well-tolerated with no safety signals
Expect to supplement global regulatory filings in the first quarter of 2022
Expect to initiate a pediatric study in younger children in the second quarter of 2022
Initiated PREVENT-19 Phase 3 booster study to evaluate safety and efficacy of a third dose of NVX-CoV2373
Heterologous boosting data announced in COV-Boost Phase 2 Study, with NVX-CoV2373 demonstrating its ability to serve as a well-tolerated third dose to boost immune levels
Announced immunologic cross-reactivity data from vaccine booster and adolescent studies to highlight potential utility of NVX-CoV2373 against Omicron variant (B.1.1.529)
Demonstrated broad IgG antibody cross-reactivity against Omicron and other circulating variants with primary 2-dose regimen
Third dose at 6-months produced increased immune response showing 9.3-fold IgG rise and 14.8-fold functional ACE2 inhibition increase
Ongoing PREVENT-19 Phase 3 pediatric expansion showed robust immune response 2-to-4-fold higher than adults against evaluated variants, including Omicron following primary 2-dose regimen
Developed Omicron-specific vaccine with GMP manufacturing and lab-based assessments underway
Expect delivery toward the end of the first quarter of 2022
COVID-Influenza Combination Vaccine Clinical Development

Ongoing Phase 1/2 trial for COVID-influenza combination vaccine
Data is expected in April 2022
Expect to initiate Phase 2 clinical trial for COVID-influenza combination vaccine and NanoFlu standalone in the second half of 2022
Publication Highlights

Final analysis from PREVENT-19 Phase 3 trial in U.S. and Mexico published in the New England Journal of Medicine
Final analysis from UK Phase 3 influenza co-administration sub-study published in The Lancet Respiratory Medicine
Final analysis of COV-Boost study led by University of Southampton NHS published in The Lancet
Financial Results for the Three and Twelve Months Ended December 31, 2021

Novavax revenue for the fourth quarter and full year ended 2021 were $222 million and $1.1 billion, respectively, compared to $280 million and $476 million for the comparable periods in 2020. The increase to royalties and other revenue in the fourth quarter and full year 2021 was primarily the result of NVX-CoV2373 sales by our license partners to South Korea and Indonesia. The increase to full year 2021 grants revenue reflects the significant NVX-CoV2373 activities funded by both the U.S. government and the Coalition for Epidemic Preparedness Innovations.

Research and development expenses for the fourth quarter and full year ended 2021 were $963 million and $2.5 billion, respectively, compared to $401 million and $747 million for the comparable periods in 2020. The increase was primarily due to the development and manufacturing of NVX-CoV2373, including pre-launch inventory buildup in advance of regulatory authorizations.

General and administrative expenses for the fourth quarter and full year ended 2021 were $84 million and $298 million, respectively, compared to $61 million and $145 million for the comparable periods in 2020.

Net loss for the fourth quarter and full year ended 2021 were $846 million and $1.7 billion, respectively, compared to a net loss of $178 million and $418 million for the comparable periods in 2020.

As of December 31, 2021, Novavax had $1.5 billion in cash, cash equivalents, marketable securities and restricted cash, compared to $0.8 billion as of December 31, 2020.

Financial Guidance

Novavax expects to achieve full year 2022 total revenue of between $4 billion and $5 billion. Total revenue reflects all sources, including product sales of Nuvaxovid by Novavax, grants revenue, royalties and other revenue.

Conference Call

Novavax will host its quarterly conference call today at 4:30 p.m. ET. The dial-in numbers for the conference call are (877) 870-4263 (Domestic) or (412) 317-0790 (International). Participants will be prompted to request to join the Novavax, Inc. call. A replay of the conference call will be available starting at 7:30 p.m. ET on February 28, 2022 until 11:59 p.m. ET on March 7, 2022. To access the replay by telephone, dial (877) 344-7529 (Domestic) or (412) 317-0088 (International) and use passcode 2206365.

A webcast of the conference call can also be accessed on the Novavax website at novavax.com/events. A replay of the webcast will be available on the Novavax website until May 28, 2022.

About NVX-CoV2373

NVX-CoV2373 is a protein-based vaccine engineered from the genetic sequence of the first strain of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’ recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is formulated with Novavax’ patented saponin-based Matrix-M adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies. NVX-CoV2373 contains purified protein antigen and can neither replicate, nor can it cause COVID-19.

Novavax’ COVID-19 vaccine is packaged as a ready-to-use liquid formulation in a vial containing ten doses. The vaccination regimen calls for two 0.5 ml doses (5 mcg antigen and 50 mcg Matrix-M adjuvant) given intramuscularly 21 days apart. The vaccine is stored at 2°- 8° Celsius, enabling the use of existing vaccine supply and cold chain channels. Use of the vaccine should be in accordance with official recommendations.

Novavax has established partnerships for the manufacture, commercialization and distribution of NVX-CoV2373 worldwide. Existing authorizations leverage Novavax’ manufacturing partnership with Serum Institute of India (SII), the world’s largest vaccine manufacturer by volume. They will later be supplemented with data from additional manufacturing sites throughout Novavax’ global supply chain.

About NanoFlu

NanoFlu is a recombinant hemagglutinin (HA) protein nanoparticle influenza vaccine produced by Novavax in its SF9 insect cell baculovirus system. NanoFlu uses HA amino acid protein sequences that are the same as the recommended wild-type circulating virus HA sequences. NanoFlu contains Novavax’ patented saponin-based Matrix-M adjuvant.

About Matrix-M Adjuvant

Novavax’ patented saponin-based Matrix-M adjuvant has demonstrated a potent and well-tolerated effect by stimulating the entry of antigen-presenting cells into the injection site and enhancing antigen presentation in local lymph nodes, boosting immune response.

Fusion Pharmaceuticals to Participate at the Cowen 42nd Annual Health Care Conference

On February 28, 2022 Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, reported that the Company will participate in the "Novel Oncology Targets" panel at the Cowen 42nd Annual Health Care Conference on Monday, March 7, 2022, at 12:50 p.m. ET (Press release, Fusion Pharmaceuticals, FEB 28, 2022, View Source [SID1234609182]). Presenting on behalf of Fusion will be Chief Executive Officer John Valliant, Ph.D.

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A webcast of the event will be available on the "Events and Presentations" page in the "Investors & Media" section of the Company’s website at View Source A replay of the webcast will be archived on the Company’s website for approximately 30 days following the panel discussion.

Jazz Pharmaceuticals to Participate in Upcoming March Investor Conferences

On February 28, 2022 Jazz Pharmaceuticals plc (Nasdaq: JAZZ) reported that the Company will participate in the following upcoming virtual investor conferences (Press release, Jazz Pharmaceuticals, FEB 28, 2022, View Source [SID1234609181]):

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Cowen 42nd Annual Health Care Conference on Monday, March 7, 2022

The presentation is scheduled for 2:10 – 2:40 p.m. ET / 7:10 – 7:40 p.m. GMT
Needham Virtual Neuroscience Forum on Wednesday, March 16, 2022

The presentation is scheduled for 1:05 – 1:45 p.m. ET / 6:05 – 6:45 p.m. GMT
Webcasts of the presentations will be available via the Investors section of the Jazz Pharmaceuticals website at www.jazzpharma.com. Replays of the webcasts will be available on the website for 30 days.